USDJPY has formed a cycle top at 97.78 level on daily chart and the fall from 97.78 is treated as resumption of downtrend from 101.43. Deeper decline to test 91.73 is expected in a couple of weeks, a break down below this level will signal further fall towards 89.00-90.00 area.
For long term analysis, USDJPY formed a cycle top at 101.43 level on weekly chart. Further fall to 89.00-90.00 to reach the next cycle bottom is expected in next several weeks.
